Venezuelan lawmakers have given preliminary approval to a proposal allowing private investment in the country’s oil sector, paving the way for major U.S. energy companies to return. The bill, approved in its first reading less than three weeks after former president Nicolás Maduro’s removal, would permit private firms to independently explore and extract oil. If passed in a second reading, it would significantly loosen decades of state control tightened under late socialist leader Hugo Chávez.

Acting President Delcy Rodríguez, formerly Maduro’s deputy, played a key role in advancing the bill and has moved to normalize relations with the United States. U.S. President Donald Trump praised Rodríguez’s leadership, noting that the U.S. is already receiving part of Venezuela’s oil. On the same day, Washington appointed Laura F. Dogu as its new chargé d’affaires in Caracas, marking a step toward restoring full diplomatic ties.

Analysts say the oil sector reform and renewed diplomatic engagement could strengthen relations between Venezuela and the United States after years of tension following the 2019 diplomatic break.

Global oil prices rose sharply on January 23, 2026, following reports that a large US naval fleet was moving toward Iran and after recent remarks by President Donald Trump. The West Texas Intermediate crude price climbed to nearly 60 dollars per barrel, while Brent crude futures increased by about 0.9 percent to 64.61 dollars. The developments triggered investor concerns over potential military escalation in the Middle East and possible disruptions to oil supply.

In a statement, President Trump confirmed that a powerful US fleet had departed for Iran but expressed hope that it would not need to be used. He also warned Tehran against targeting protesters or resuming its nuclear program. Unnamed US officials said the aircraft carrier USS Abraham Lincoln and several guided missile destroyers could reach the region within days, with additional air defense systems under consideration to protect US bases.

Analysts attributed the price increase to geopolitical tensions and a weaker dollar. Although the International Energy Agency had forecast an oil supply surplus for 2026, Trump’s tougher stance has cast uncertainty over that outlook.

The European Union has suspended the Generalized System of Preferences (GSP) benefits for most Indian exports, including apparel, textiles, plastics, and other major sectors. The decision took effect on January 1, 2026, following a regulation issued by the European Commission on September 25. The suspension will apply from January 1, 2025, to December 31, 2028, and also affects selected products from Indonesia and Kenya.

According to the Global Trade Research Initiative (GTRI), about 87 percent of Indian exports to the EU will now face full tariffs, with only 13 percent—mainly agricultural and leather goods—retaining GSP benefits. Previously, Indian goods enjoyed lower tariffs than the Most Favoured Nation (MFN) rate, but now full MFN duties will apply. For example, apparel tariffs will rise from 9.6 percent to 12 percent. The suspension covers key sectors such as minerals, chemicals, rubber, steel, machinery, and transport equipment.

GTRI’s Ajay Srivastava noted that despite ongoing India-EU free trade talks, exporters will face short-term challenges, compounded by the EU’s Carbon Border Adjustment Mechanism. Export organizations warned that India’s competitiveness may decline compared to Bangladesh and Vietnam, whose exports still enjoy lower or zero tariffs in Europe.

The Ninth National Pay Commission submitted its report to Chief Adviser Dr. Muhammad Yunus on January 21, three weeks ahead of schedule. Led by Zakir Ahmed Khan, the commission proposed a 20-grade pay structure for government employees, recommending that the minimum salary rise from Tk 8,250 to Tk 20,000 and the maximum from Tk 78,000 to Tk 160,000. Implementing the proposal would require an additional Tk 1.06 trillion, with salaries potentially increasing by 100 to 147 percent and similar adjustments for pensions and allowances.

During a meeting chaired by Dr. Yunus in Tejgaon, members of the interim government’s advisory council discussed the report extensively. Some advisers expressed concern that such a large increase might be inequitable given the current economic conditions and high inflation. They cautioned against placing excessive pressure on the national treasury while many citizens face limited incomes.

Finance Adviser Dr. Salehuddin Ahmed confirmed that no committee has yet been formed to oversee implementation. The absence of this committee has raised uncertainty about whether the new pay structure will be enacted during the current government’s tenure.

Saudi Arabia has announced that it possesses mineral resources worth about $2.5 trillion, including rare earth elements such as dysprosium, terbium, neodymium, and praseodymium. The declaration came during the Future Minerals Forum in Riyadh, where officials emphasized the country’s plan to expand its mining sector to reduce dependence on oil and strengthen geopolitical influence. The state-owned mining company Ma’aden also revealed plans to invest $110 billion in metals and mining over the next decade.

According to S&P Global, Saudi Arabia’s mineral exploration budget rose by 595 percent between 2021 and 2025, with faster licensing for domestic and international firms. Experts, however, cautioned that extraction and processing take years, with processing plants requiring three to five years to build, and sometimes more than 20 years. SAFE Minerals Center’s executive director Abigail Hunter noted that China remains far ahead of the United States in this sector due to decades of strategic investment and state-backed projects.

Saudi Arabia’s Vision 2030 identifies mining as a key pillar for economic diversification, and experts believe the country’s growing infrastructure could make it a regional hub for mineral processing.

Bangladesh Bank has initiated liquidation proceedings for nine non-bank financial institutions (NBFIs) due to severe irregularities and high default rates. Hearings have begun to assess the justification for liquidation. According to central bank sources, if the institutions are closed, the government will refund individual depositors, while institutional and interbank dues will be settled through asset sales. The nine NBFIs include FAS Finance, Bangladesh Industrial Finance Company, Premier Leasing, Fareast Finance, GSP Finance, Prime Finance, Aviva Finance, Peoples Leasing, and International Leasing.

These institutions have default rates between 75 and 98 percent, accounting for 52 percent of total NBFI defaults by the end of 2024. Allegations of large-scale financial misconduct, including embezzlement by former executives, have contributed to their collapse. The total deposits across the nine institutions amount to Tk 15,370 crore, of which Tk 3,493 crore are individual deposits to be repaid by the government.

Governor Ahsan H. Mansur stated that individual depositors will receive their principal amounts before Ramadan in February 2026, without interest. The government has verbally approved around Tk 5,000 crore for repayments, and asset valuation will determine any potential returns for shareholders.

An article by Jony Siddiq, published on January 23, 2026, in Amar Desh, warns against hoarding and creating artificial shortages, describing such acts as severe sins in Islam. The piece highlights that Bangladesh is currently facing an acute gas crisis and abnormal price hikes, leaving ordinary citizens struggling. It accuses dishonest business syndicates of deliberately inflating prices of cylinder and industrial gas by fabricating scarcity, worsening public hardship and industrial production.

The article cites multiple hadiths condemning hoarding, emphasizing that those who stockpile essential goods to manipulate markets are cursed and will face divine punishment. It references Islamic scholars such as Imam Nawawi and Abu Lais, who classify hoarding as prohibited when it causes artificial scarcity or public suffering. The author urges the business community to conduct trade honestly, supply goods at fair prices, and seek divine satisfaction rather than short-term profit.

The piece concludes with a moral appeal for ethical business practices, warning that ill-gotten gains may harm both worldly and spiritual well-being.

Saudi Arabia has sold a record $20 billion worth of bonds since the start of this year, marking the highest in the kingdom’s history and surpassing China in global debt issuance. According to Bloomberg data, the Saudi government directly raised $11.5 billion, while state-controlled firms such as Saudi Electricity, Saudi Telecom, Saudi National Bank, and Riyad Bank borrowed an additional $8.8 billion. These companies, though government-owned, are listed on the Tadawul stock exchange.

Analysts view the surge in borrowing as a reflection of the country’s Vision 2030 plan, which aims to diversify the oil-dependent economy. The trend indicates that debt pressure is now extending beyond the government to state-owned enterprises. Saudi Arabia became the largest international debt issuer among emerging markets in 2024, a pattern expected to continue through 2026.

Financial Times reported that Saudi banks are increasingly turning to foreign loans. Despite lower oil prices, the kingdom remains relatively stable due to low production costs and substantial foreign currency reserves.

Islami Bank Bangladesh PLC held a meeting of its Board of Directors on Thursday, January 22, 2026, at the Islami Bank Tower in Dhaka. The meeting was chaired by the bank’s Chairman, Professor Dr. M. Zubaidur Rahman.

According to the report, the session was attended by Executive Committee Chairman Mohammad Khurshid Wahab, Audit Committee Chairman Md. Abdus Salam, FCA, FCS, Risk Management Committee Chairman Professor Dr. M. Masud Rahman, Independent Director Md. Abdul Jalil, Managing Director Md. Omar Faruk Khan, and Company Secretary Md. Habibur Rahman. The article did not specify the agenda or outcomes of the meeting.

The report focused on the participation of key board members, highlighting the bank’s continued governance activities through regular board sessions held at its headquarters.

The Bangladesh Textile Mills Association (BTMA) has announced that all spinning mills across the country will be closed indefinitely from February 1, 2026, if the Ministry of Commerce’s recommendations are not implemented promptly. The announcement was made by BTMA President Shawkat Aziz Russell during an emergency press conference at the association’s Karwan Bazar office in Dhaka. The organization claimed that the textile industry is facing a severe crisis due to the government’s inaction and lack of effective measures.

Russell stated that the sector, which contributes 13 percent to the national GDP, has reached a state of emergency. He warned that if the recommendations are ignored, mill owners will be unable to repay bank loans, potentially triggering a financial crisis and labor unrest. BTMA reported that most mills are operating at only 60 percent capacity, with around 50 large factories already closed.

The Ministry of Commerce has recommended withdrawing bond facilities on yarn imports of 10 to 30 counts to protect local producers. BTMA has demanded a 10 percent incentive on yarn, the imposition of safeguard duties, and urgent policy support to save the textile, RMG, and accessories sectors.

Bangladesh and Japan have signed the Bangladesh-Japan Economic Partnership Agreement, under which Bangladeshi ready-made garments will receive duty-free access to the Japanese market. The announcement was made by Chief Adviser’s Press Secretary Shafiqul Alam at a press conference held on Thursday, January 22, at the Foreign Service Academy in Dhaka. He described the agreement as a landmark step for Bangladesh’s trade relations.

According to the press secretary, the agreement will allow 7,379 Bangladeshi products to enter Japan duty-free, while Japan will gain immediate tariff-free access for 1,039 of its products in Bangladesh. He emphasized that this is the first time Bangladesh, as a least developed country, has signed such an agreement with the world’s fourth-largest economy. The deal is expected to open new opportunities for Bangladesh’s trade with other countries as well.

The press secretary highlighted that the biggest benefit for Bangladesh will be the duty-free entry of its largest export sector, the ready-made garment industry, into the Japanese market.

Afghan business representatives and leading Bangladeshi pharmaceutical manufacturers have reached a direct agreement to import medicines from Bangladesh to Afghanistan. The understanding was finalized during a visit to Dhaka by a delegation led by Afghanistan’s Deputy Minister of Commerce and Industry, Maulvi Ahmadullah Zahid. According to a statement from the Afghan ministry, the delegation visited two major Bangladeshi drug producers, Beximco Pharmaceuticals Limited and Renata PLC.

The statement described these companies as among Bangladesh’s top pharmaceutical exporters, currently supplying medicines to around 50 countries. During the visit, Deputy Minister Zahid invited Bangladeshi investors to establish pharmaceutical production facilities in Afghanistan, asserting that the Islamic Emirate of Afghanistan fully supports industrial and manufacturing sectors and ensures all necessary facilities for investment.

Additionally, Dr. Naimullah Ayubi, Director General of the Department of Medicine and Health Product Regulation under Afghanistan’s Ministry of Public Health, said Bangladeshi manufacturers would receive full cooperation under existing policies. The agreement marks a step toward strengthening bilateral trade in pharmaceuticals between the two countries.

Israeli media reported that the country’s once-profitable agricultural export industry is facing a severe crisis as international opposition to Israel’s ongoing military actions in Gaza begins to affect trade. Orders for Israeli lemons and mangoes from Europe and Asia have nearly stopped, leaving farmers fearing a total collapse of this key economic sector. Some farmers, including orchard managers and former military officials, said they are operating at a loss since the war began.

According to reports from Kan 11 and Middle East Monitor, many farmers acknowledge that the main reason for the export decline is global outrage over Israel’s actions in Gaza, despite citing supply disruptions and Red Sea blockades. Some farmers have refused to sell produce to Gaza’s Palestinian market, even at the cost of heavy financial losses, citing ideological opposition to Hamas. The Citrus Growers Organization confirmed that no containers have been exported since the war started.

The crisis has left hundreds of tons of fruit rotting in northern Israel and forced producers to rely on local markets. Analysts noted that this agricultural decline reflects a broader economic downturn, with Israel’s overall economic activity dropping 26 percent in late 2023.

Electricity generation at the first unit of the Barapukuria Thermal Power Plant in Parbatipur, Dinajpur resumed at 9:03 p.m. on Wednesday after a three-day shutdown. The plant’s chief engineer, Md. Abu Bakkar Siddique, confirmed that production had been halted on January 18 at 11:15 a.m. due to a boiler tube rupture. Following repairs, firing began at 3 p.m. on Wednesday, and the unit returned to production later that night.

According to plant sources, Barapukuria has three units: the first and second units each have a capacity of 125 megawatts, while the third unit has a capacity of 275 megawatts. The second unit has remained closed since November 2020 due to mechanical issues, and the third unit has been offline since October 16 of last year. The first unit has faced repeated shutdowns in recent months, including four stoppages in the past two months.

The chief engineer stated that the first unit will now produce an average of 50 to 60 megawatts daily, requiring 700 to 800 metric tons of coal per day. Repair work on the 275-megawatt third unit is ongoing and is expected to be completed by mid-March if conditions remain stable.

Biman Bangladesh Airlines has announced a temporary suspension of its Dhaka-Sylhet-Manchester route, effective from March 1, 2026. The airline cited fleet shortages, operational pressure, and economic inefficiency as the main reasons behind the decision. According to a press release issued on Thursday, the Manchester route is currently not profitable, and the long-haul flights occupy aircraft for several days, creating additional strain on fleet management.

The airline explained that during the Hajj season, it must operate extra flights to transport large numbers of passengers within a limited time, requiring adjustments to other routes. Due to high demand on Middle Eastern routes, particularly from expatriate workers and Umrah travelers, Biman decided to allocate its limited wide-body Boeing 787 and 777 aircraft to more viable destinations. Routine maintenance, engine overhauls, and a global crew shortage have further intensified operational challenges.

To ease passenger inconvenience, Biman has increased London route frequency to five flights per week and offered ticket refunds or rerouting via London without extra charges. The airline stated that new aircraft procurement and crew recruitment are underway, and the Manchester route may resume once capacity improves.